Stewart Regan has expressed his concerns for the future of Sevco claiming that he would like to see the club improve it’s finances for the good of Scottish football.
The SFA chief signed up to the highly secretive Five Way Agreement in 2012 that gave the club SFA membership despite having no audited accounts and failure to publish who owns the club.
Over the last two and a half years the club has gone through four chief executives, three chairmen and a multitude of directors with no sign of anyone at the SFA willing to apply financial fair play to protect other clubs.
While Hearts show what can be achieved by making ends meet and are developing young Scottish talent Regan’s energy is consumed by the omnishambles unfolding at Ibrox.
Sevco have yet to publish audited accounts with even the most imaginative interpretation of their finances unlikely to suggest that the club remains a going concern over the next 12 months on the back of a £3.13m share issue and two emergency loans to reach the end of November.
Speaking tonight to STV the SFA chief admitted: “We would all like to see Rangers improve their financial position in order to bring money to the game of football in Scotland.
“Rangers have got a strong economic impact, not just for Glasgow but for Scotland generally. In that regard I know the fans are desperate to see success again. They are desperate for stability.
“They’ve had a number of years of ups and downs now and I think they are hopeful they will get some certainty and stability in the future.”
A crash course in basic accounting would certainly be worthwhile for Regan to undertake as well as discovering the phrase liquidation.
Had the SFA applied a firm hand following the liquidation of Rangers it’s unlikely that supporters would have been duped into buying up three sets of season tickets and investing in shares worth one third of their value in 2012.
Every week clubs in the Championship are suffering as they play in a division where one club has budgeted for players way beyond their income with Inverness Caley Thistle, St Johnstone, Dumbarton and Queens Park knocked out of cup competitions for living within their means.
Having predicted social unrest in 2012 if a club from Ibrox wasn’t in the top flight of Scottish football it’s unlikely that anyone will take the latest cries of the former Yorkshire cricket chief with any seriousness.
